Affordable Senior Housing Contruction Begins in Grand Forks

Cherrywood Village, a new living community for seniors.

GRAND FORKS, ND – Low-income seniors in Grand Forks will soon have a new place to call home thanks to an innovative state program administered by the North Dakota Housing Finance Agency (NDHFA).

Valley Memorial Homes recently began construction of Cherrywood Village, a two-story apartment complex that will provide 30 units of affordable housing for individuals age 62 and older. The project was funded in part by the North Dakota Housing Incentive Fund (HIF).

“Right now, the senior apartments that Valley Memorial Homes offers in Grand Forks are all market rate. With the support we received from HIF, we will be able to provide housing for the independent, low-income elderly in the community,” said Nancy Andrews, Director of Housing and Assisted Living for Valley Memorial Homes.

Capitalized by contributions from state taxpayers, HIF provides low-cost financing to developers of affordable multifamily housing. Contributions can be directed to a specific project or community. US Bank contributed $1.2 million to HIF in December 2011, requesting that $500,000 be directed to the Valley Memorial Homes project.

“Valley Memorial Homes’ project will be a welcome addition to our community,” said Mayor Michael Brown. “With the anticipated growth of Grand Forks’ senior population, we expect to see an increased demand for affordable living options that aren’t assisted living.”

The Grand Forks Blue Ribbon Housing Commission’s Housing Market Snapshot projects that the city’s households headed by residents age 55 or older will continue to grow and that the existing senior population not yet requiring assisted living services are having difficulty finding affordable, accessible housing options.

Located at 3350 Cherry Street, the one-bedroom units will be targeted to households at 30 to 50 percent of Area Median Income. In Grand Forks County, a one-person household that earns no more than $14,220 would pay approximately $380 per month for rent.

“NDHFA’s mission and our goal for HIF is to ensure there are housing options for everyone in the community,” said Jolene Kline, NDHFA acting executive director. “We are proud to partner with Valley Memorial Homes to address Grand Forks’s need for safe, decent and affordable senior housing.”

The development also received support from the U.S. Department of Housing and Urban Development; the City of Grand Forks; ICS, Inc.; Valley Homes and Services; and the Valley Memorial Foundation. The total cost of constructing the two-story building is estimated at $4.75 million. Valley Memorial Homes anticipates that the project will be completed by June 2014.

Valley Memorial Homes is a Christian non-profit organization providing long term care services for the greater Grand Forks area. Valley Memorial Homes, a partner with 26 area Lutheran congregations, is celebrating its 89th year of service. Valley Memorial Homes has five facilities located on three campuses throughout Grand Forks.

The Industrial Commission of North Dakota, consisting of Governor Jack Dalrymple as chairman, Agriculture Commissioner Doug Goehring and Attorney General Wayne Stenehjem, oversees NDHFA.

More information about the Housing Incentive Fund is available online at www.ndhousingincentivefund.org.

2 thoughts on “Affordable Senior Housing Contruction Begins in Grand Forks

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s